BoK, NIFT sign agreement
PESHAWAR – The Bank of Khyber (BoK) and NIFT have signed an agreement for digital commerce payments (electronic/mobile) through NIFT’s Ecommerce Gateway.
The agreement was signed by Ihsan Ullah, MD BoK, and Haider Wahab, CEO NIFT, in presence of senior management at BOK Head office, Peshawar.
MD Ihsan Ullah said: “I am pleased to announce that BoK has partnered with NIFT as part of its Digital transformation journey; we are destined to provide easy digital banking facilities to our customers. A year back it seemed like a humongous task but here we are thanks to our management especially Azfar Latif, Head IT Division and his dedicated team”.
Payment gateway is an e-commerce platform that helps support modern retail & other types of sales of products and services over the Internet. The Bank of Khyber (BoK) is embarking on digital banking channels, therefore, it is utmost important that Bank should adopt integration with different Payment gateways to provide efficient digital services for E-commerce & Online transactions which in return will enable BoK customers outreach to maximum E-Commerce and online merchants.
NIFT is the first local account-based e-Commerce Payment Gateway which is approved by SBP under the Payment System Operator/Provider (PSO/PSP) rules.
NIFT e-Pay’s primary focus is to execute secure E-commerce payments in Pakistan using details of bank account. This provides an opportunity to the customers who don’t have conventional instruments for digital payments such as Debit or Credit Card to conduct e-commerce transactions directly through their transactional accounts and wallets.